Additionally, each deep clean after a mid-term stay costs around $300 or more, which almost negates the financial benefit of the mid-term rental model. 

I love being able to turn personal properties into rentals as they required a small amount of cash for a large asset to have someone else paying off.It really depends on your long term goal, but ours is to use these "retirements baskets" into reasons that early retirement at 44 is successful! 

Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

When networking on BP or in person, being clear about your goals will make a big difference.Are you mainly interested in finding rental properties, connecting with other landlords, or exploring specific asset types?

The only exception (and I'm sure we agree here, too...) is that even if you aren't in a great financial position, you should still house hack.

Asset class, price point, distress vs turn key, cash flow expectations/desires, etc.

I personally like working with a broker because I know they are helping to vet the insurer and making sure that I am not missing key pieces of coverage.That said, from my understanding of the insurance markets basically different insurers like to spread their risk out across geography and asset class.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Currently FHA is offering no doc short sales through 4/2025, so you wont even have to provide any financials to get your short sale  approved.